Nedbank provides funding for affordable housing development in Vanderbijlpark

By Nedbank Corporate Property Finance 2011-05-26 12:17:00

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Manie Annandale says MDV Developments has managed to package starter homes from R269 000 to R406 000 in their Lakeside development, making these some of the most affordable starter home projects in the country.

Nedbank Corporate Property Finance: Affordable Housing today announced that it has provided funding to MDV Developments for its Lakeside development in the greater Vanderbijlpark area.

The development comprises 200 stands ranging in size from 220m² to 510m², with modern two and three bedroom homes ranging in size from 40m² to 64m².

It is situated approximately three kilometres away from the Palm Springs Mall, 35 kilometres from the Southgate Shopping Centre and 45 kilometres from the Johannesburg CBD. Lakeside itself is well serviced with tarred roads and underground electrical reticulation.

Nedbank Corporate Property Finance: Affordable Housing is excited to be involved in this development with MDV Developments as it speaks to and assists in Nedbank’s and government’s drive to alleviate the affordable housing shortage in South Africa.

Manie Annandale, Head: Nedbank Corporate Property Finance Affordable Housing says, “MDV Developments has managed to package starter homes from R269 000 to R406 000 (all costs included) in their Lakeside development, making these some of the most affordable starter home projects in the country.

Add to this that the development is close to schools and clinics, situated on some of the main transport routes in the area and within walking distance from the Palm Springs Mall you have an exceptionally popular offering, as the 74 homes that have already been built and sold show.”

Anton van Vuuren, Managing Director of MDV Developments says, “The world wide economical downturn and more specifically the downturn in the residential property market have enabled MDV to acquire some well located pieces of land at differing stages of approvals and servicing.

These acquisitions will enable MDV to continue the delivery of high quality units at affordable prices to the market over the next three to five years.”

MDV Developments (Pty) Ltd is a well established private development company that operates predominantly in the Gauteng and KwaZulu Natal regions. They specialise in residential properties for clients in the traditional middle and lower income groups.